Economy and Regeneration Overview and Scrutiny Committee 7th November 2011 Part 5, apprenticeships, cashflow, business angels, interest rates, inward investment, engineering

An officer said that some businesses were not doing well and some were leaving the Wirral. One had made a decision to move to Hungary and Wirral Council was working with the hundred and eighty staff affected.

The forty-six apprenticeships were not just for young people. They also went into companies that they heard were experiencing trouble, to try to alleviate any cashflow problems. The project manager would look at the books and try to keep abreast of any financial problems.

Cllr Tony Cox asked about the profile of those chosen to be business angels, was a maximum percentage rate of interest agreed or was that between the business and the investor?

Paula Basnett said that they just coordinated it, but they could check out the background of business angels with Companies House. The interest rate was between the investor and the investee.

A councillor commented that first tier aerospace engineering as well as second tier precision machine engineering was coming back to the UK. A council officer said that Cllr Davies had been at an event about this a month ago organised by the Chartered Institute of Logistics and Transport called “Give Yourself the Edge” in Bromborough. They were also working with the new management at North West Precision Ltd which was part of the manufacturing base. Wirral Council had also advertised the post of Inward Investment Manager, the closing date had been last Friday. He said managers go into engineering businesses and suppliers of engineering businesses so that Wirral keeps its engineering base and grows it when the conditions are right.

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